Purchasing & Accounts Payable for life sciences & biotech
Improve the way your finance team manages Purchase Orders and Accounts Payable for good!
An Industry Recognised App
Why Lightyear?
Because of innovations in Life Science industries patient outcomes are becoming increasingly positive, especially within the last few years. Streamlining workflow processes across the value chain paves the way for new medications, treatments, and vaccines.
While the Life Sciences industry is one of the biggest adopters process automation, paper-based purchasing & accounts payable processes can be slower to bring onboard.
This is where Lightyear come in, Life Science and Biotech companies across the UK & America are are using us to automate everything from invoice capture, to supplier management, to 3-way matching and beyond.
Automation software for Life Sciences & Biotech companies
No more paper
Never get overwhelmed by paper again by removing paper from your Accounts Payable workflow. That means no more lost documents, no more damaged paper and no more passing paper around an office.
No more typing
Extract all of your line-items instantly and accurately from your supplier bills and cut out any human error. Lightyear will automatically apply all your coding to your line-items to save you even more time.
Get early payment discounts
When you automate tasks in your Accounts Payable you speed up the processing of your supplier bills meaning you can take advantage of early payment discounts to save your company money.
Auto update stock levels
All your supplier statements are automatically reconciled in seconds with you having to click a button. You can request missing documentation from your suppliers in as little as 2 clicks.
Approve bills in 1 click
Approve all your bills without having to pass paper around multiple locations. You can even approve bills on the go with our mobile app.
Get going in a matter of minutes
Get up and running with your Accounts Payable in minutes. Simply start sending your supplier invoices into Lightyear and our proprietary data extraction technology will extract your data in real time.
Collaboration & Approvals in our free Lightyear mobile app
Lightyear's iOS and Android mobile app allows you to collaborate with your colleagues and clients, wherever and whenever.
Complete your approvals and tasks, dispute bills, add notes, receive notifications and upload images of receipts/bills on the go.
Integrate with leading solutions
From accounting packages to inventory solutions, Lightyear offers seamless integration into leading systems in the life sciences industry. Eliminate duplicated work for your team and give them back time they need to complete more pressing tasks.
How to automate Purchasing and Accounts Payables in the Life Sciences industry
Life Sciences businesses can follow a variety of different workflows. You can use Lightyear to create orders and manage your purchasing process or, alternatively, if you do not use a purchasing system you can use Lightyear to automate data extraction and approval of bills without a Purchase Order document.
Order Stock and Services
Create purchase orders in a couple of clicks. Our intuitive platform stores your product information in a supplier product list. You can quickly build out your orders and then approve them in a multi-tiered approvals workflow before sending to your supplier.
Receive and Record Goods
You can create GRNs (Goods Received Notes) in Lightyear to acknowledge receipt of your goods delivery.
Bill received
Receive supplier bills (invoices) directly from your supplier in to your Lightyear account for immediate line by line data extraction.
Data extraction
Smart Extract uses AI and Machine Learning technology to instantly extract line-item data from your invoices when they reach your Lightyear account. Details include product codes, quantities, and multi-line descriptions.
Automated Bookkeeping
Lightyear's machine learning technology learns how you code each of your line items and bills so that it can automatically code your items with GL (general ledger) codes, tax rates, locations, project codes and custom classes every time.
Export purchase data to your Inventory Software
Populate your purchases into your inventory software with a few clicks to keep all your systems accurate and up to date, helping to avoid double data entry.
Price checking
Every line-item on your bills are price checked against your agreed supplier pricing to ensure you don't overpay your suppliers.
3-way match POs to GRNs to your bills
Lightyear automatically matches your POs (Purchase Orders) to your GRNs (Goods Received Notes) to your supplier bills - line by line.
Approve your bills
Your bills can move through a multi-tiered approvals workflow to ensure they are ready to be paid.
Export to your Accounting Software
At the end of your Accounts Payable flow, you can export all the details from your supplier bills to your Accounting Software.
Archive and report on your COGS
Monitor the COGS (Cost of Goods Sold) in real-time with our reporting functionality from your archive. Run reports to find the purhcase cost of all your purchases by GL code or location.
Statement Reconciliation
Save a huge amount of time with our automated supplier statement reconciliation feature. Lightyear will automatically reconcile your statement, letting you know which bills you have received, which bills you haven't, and help you request missing bill copies from your suppliers.
Get started with AP automation
Book a 15 minute chat with our experts to see how you can start saving
Trusted by Leading Businesses Everywhere
Lightyear delivers, and then some. I have found the accuracy of the data extraction and multi-level approval rules have significantly reduced manual processing costs.
The Lightyear team are fantastic to deal with - knowledgeable and patient. They are more than a supplier. They are an invaluable and trusted business partner, who have the best interest of our businesses to heart.
We reviewed a number of AP apps, and Lightyear was by far and away the best. Their sign-off functionality for managers is unique to all the apps we surveyed. Love it!
Hundreds of our McDonalds clients are using Lightyear - It's great for speeding up the entry of bills and supporting separate bill authorisation.
With more than one million Bills processed, Lightyear continues to be an invaluable addition to Abcom’s suite of business applications.
Lightyear has an easy to use interface, eliminating data-entry and facilitating better business processes around the accounts payable function.
The software itself is very user friendly, making our processes much more efficient and eliminating our need for paper in the accounts payable process.
I love that all my actions can be done in one place - Lightyear stores/archives all information received and makes searching it a breeze.
Lightyear is such an easy platform to use, it saves heaps of your time and every invoice is at your finger tips. The support team is awesome and you never have to wait more than a minute to speak/online chat to someone for advice or help.
Saves so much time. It is so easy to use, and the staff friendly and knowledgeable. It was very easy to train our farm managers to use. We love it!
Lightyear allows us to easily manage the accounts payable process across our entire client base. The parent dashboard gives great visibility across them all.
I've been using Lightyear for a few years for larger clients and have just recently transitioned my smaller clients across. Regardless of the size of business, Lightyear provides great efficiencies.